The Hope pioneer. [volume] (Hope, N.D.) 1882-1964, 1887-11-18
The Indian Wheat Scare.

The notion that India is about to drive the
United States out Of the market, as the princl.
pal source Of the worlds wheat supply, has
been laid upon the shelf. It is only few
years since everybody was thinking and writ
ing about it; and no argument, from debate
In congress to an address before waterways
| convention, was complete without its array Of
statistics to show that the naked ryot would
soon, unless something was done, force the
American farmer to the wall. What he has
accomplished is to lower the price of the great
staple tremendously; although this is, perhaps,
as much the work Of the American speculator
as Of the Hndoo peasant. But as to the notion
that he is to take the market from US, and that
the days Of our glory as the chief wheat raising
nation of the world are past, all that is mere
bugaboo.
Mr.. Edward Atkinson, who is now engaged
upon farther researches in the matter, presents
| some preliminary statistics which are reason
ably conclusive In themselves, In examining
the silver question, he found it necessary to
study carefully the wheat-producing interest.
His conclusion is that, when wheat sells for
81 shillings per quarter in Mark Lane-equiva-
lent to $1.O2 per bushel-the Indian supply d.
minishes and the competition Of Russia is
checked. If he says, the American supply
can continue whom the price stands at this
figure, we can hold the market not only against
the English farmer, who 10 confessedly out OF
the race, but against all countries Of the East.
Why this is true, why Indian competition can
not farther depress prices, he expl&ins BY stst-
j t ing some the eondi itsans ef aradRction IL
aIndia which our farmers Of the Northwest
will be interested to learn:
1.-THE area Of possible wheat cultivation is OK.
tensive, but it Is from 700 to 1000 miles from
the seaboard; 1t is in the hot section, where the
supervision of Europeans is necessary but
costly; without which the wheat cannot be
prepared for export eveu in the rude manner
in which 1t is now prepared. 1t is cultivated
by prehistoric methods y the crop per acre
is small, the cost Of production relatively to the
rate of wages is very high. ** \ The wheat
is dirty; when 1t reaches the seaboard at a
heavy charge by rail 1t has to be repacked,
busted and put in fit condition for export,
When the wheat reaches Bombay it must be
| carried by the Suez canal and by sea distance
| of about 5000 miles. Its quality when 1t
reaches London is subject to much uncertainty.
~ 1t is at least doubtful If anything less
than "a shillings per quarter will leave any
margin whatever at the point of production
for the payment of the laborers under the pres
ent condition of the trade. At that price the
supply appears to be diminishinR."
1t appears, then, that, at price which is
higher than that for which wheat is now sel-
ling in England, the Indian competition dimin-
ishes. At that price America can furnish
wheat, because she is doing 1t now. It Is truo
that the farmers profit in not great. Yet tho
price fixed, 81 shillings per quarter, or $1.o2
per bushel, s more than he has been receiving.
Bradstreets says that wheat from Dakota can
| be delivered in London at cost of 81 cents
| per bushel. That seems to be under some esti-
mates; but such transportation charge would
leave the price Of wheat at the farm IS cents
per bushel, when it brings $1.02 In London.
We imagine that the farmer Of the Northwest
| can live when he can get 65 cents for wheat
delivered from his wagon; since the cost Of
production has been estimated at from 40 to 20
cents, according to the size of the farm and
the use OF labor-saving machinery. In any
event, the Indian wheat scare has lost its ter
rors. It would never have appeared 30 fOrmid-
able had it not been magnifed by the advo-
Gates of silver coinage, as a aconvenient method
of inducing the farmer to vote for unlimited
silver currency, under the pretense that this
| would appreciate the value of silver bullion,
| and that such appreciation would curtail the
production Of wheat in India. It is exactly
the same sort Of phantom that the overpro-
tected manufacturer conjures up when
reduction Of tariff duties is talked of. This
particular ghost seems now to be pretty ef-
fectually laid.-Pieneer Press.